UP Fintech (NASDAQ:TIGR) Stock Price Up 7% – What’s Next?

UP Fintech Holding Limited (NASDAQ:TIGR)’s share price shot up 7% during trading on Friday . The company traded as high as $10.17 and last traded at $9.83. 23,441,585 shares traded hands during mid-day trading, an increase of 1,059% from the average session volume of 2,021,751 shares. The stock had previously closed at $9.19.

Analysts Set New Price Targets

Separately, Citigroup decreased their price target on shares of UP Fintech from $6.49 to $5.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd.

UP Fintech Price Performance

The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 42.74 and a beta of 0.92. The stock’s 50 day simple moving average is $4.07 and its 200-day simple moving average is $4.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.15 and a quick ratio of 1.15.

UP Fintech (NASDAQ:TIGR) last issued its quarterly earnings data on Friday, August 30th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $87.44 million during the quarter. UP Fintech had a return on equity of 5.35% and a net margin of 8.59%.

Institutional Trading of UP Fintech

Several hedge funds have recently added to or reduced their stakes in TIGR. GAMMA Investing LLC grew its stake in shares of UP Fintech by 308.9% in the first quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock worth $26,000 after acquiring an additional 5,804 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of UP Fintech in the 1st quarter worth approximately $34,000. SG Americas Securities LLC bought a new position in shares of UP Fintech during the 2nd quarter worth approximately $78,000. Virtu Financial LLC boosted its stake in UP Fintech by 61.3% in the 1st quarter. Virtu Financial LLC now owns 27,169 shares of the company’s stock valued at $93,000 after buying an additional 10,329 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in shares of UP Fintech in the 1st quarter valued at $117,000. Institutional investors own 9.03% of the company’s stock.

About UP Fintech

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform; and account management services.